Vitalik Buterin of Ethereum implores people to pay more attention to technology than price.

Ethereum co-founder Vitalik Buterin has stated that the cryptocurrency community should concentrate on technology and application systems rather than cryptocurrency prices as the bear market in cryptocurrencies continues to rage. Comparing being in it for the sake of potential financial gains to being in it for the tech represents a “significant and positive” cultural pivot. Buterin stated in February that cryptocurrency developers would embrace a fresh bear market.

In a bull market, rising cryptocurrency prices draw enormous attention, with greed and unbridled speculation taking control. Builders are typically the ones who stay in the market during difficult times because speculators typically leave the market as soon as prices crash.

Because many innovative projects generally emerge during downturn markets, some sane business leaders genuinely welcome price declines. Buterin explains that unsustainable crypto ventures typically disappear during bear markets, with quality taking precedence over number. The Canadian programmer claims that while high prices make many people happy, they also draw a lot of needless speculative attention.

The price of Bitcoin and other popular cryptocurrencies have fallen by more than 70%, causing a dramatic meltdown in the cryptocurrency market. After the spectacular collapse of the FTX exchange, which some doubters think might have ushered in a full-fledged ice age, the business is still in a funk.